Description
This add-on adjusts the view- and particle distance to the current graphic load and context (normal, combat, UI hidden) to stabilize the framerate. If the view distance drops and drops, additional effects get disabled:
Distorsion, god rays and antialiasing. In this order.

And if the framerate raises again, e.g. because you left the crowded city, the view distance increases again. This way you can choose between quality and performance: Smooth fps in combat and best graphics otherwise.

Since 1.3.0: If you travel or use a door, the view distance is set back to the average between minimum and maximum. This is because:

You may leave a low GPU load zone and enter a heavy GPU load zone and do not hit a GPU burst wall.

You may leave a heavy GPU load zone and enter a low GPU load zone and would see the "nothing" where the opposite wall should be.

version 1.3.0:
- API 100017 'One Tamriel' ready.
- Moved "Advanced Settings" to new addon.
- Minimum and Maximum View Distance can be configured.
- View Distance is reset to the average between minimum and maximum on travel and using doors. (Cyrodiil gates are not doors)
- Adjusted relation between "View Distance" and "Particle Distance".
- Changed default settings to "high-end".

version 1.2.5:
- Due to reproducable frame drops after 5sec occuring at some wayshrines, I increased loading burst suspend delay to 10s. Can be configured now.
- Slower increasing of view distance to prevent falling from one frame drop to the next in locations like Orsinium.
- ESO 2.5 (Shadow of the Hist) ready

version 1.2.4:
- ESO 2.4 API 100015

version 1.2.3:
- ESO 2.3 API 100014

version 1.2.2:
- Fixed minor bug in settings: Upon showing the settings, the sliders did not change their max value, if different from default.
- For Advanced: Increased maximum of "Maximum Framerate" slider to 1000fps, to disable limiting by game.
* Limit your framerate via v-sync or driver settings, e.g. nvidia control panel, to prevend overheating!

I have been thinking about giving this a try, but was wondering; If I try it and decide not to keep it will need to readjust my graphic settings to get them back where I had them?

No, not really. 2 sliders and three on/off switch are not that difficult to restore manually.

One way to minimize the mouse movement effort is to go to an area where your graphics adapter has no performance issues. The settings will be maxed out and your are done.
A second way is to use the Nvidia Experience Control to let change the settings.